GrowFLEntrepreneur by Adam Clayton

Economic Gardening

Resource Providers

Advocates & Champions

UCF Research

GrowFL Company Spotlights

Spring 2014

Creating Jobs throughout Florida

Itâ&#x20AC;&#x2122;s about

JOBS

Randy Berridge

Advocate for Entrepreneurism President, Florida High Tech Corridor Council

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About JOBS… It’s

n the pursuit of wealth creation and regional prosperity, an entrepreneurial approach has evolved known as Economic Gardening® — which focuses on a “grow from within strategy” versus the traditional business assistance model. Economic gardening concentrates on strategic growth challenges, such as developing new markets, refining business models and gaining access to competitive intelligence.

GrowFL, the Florida Economic Gardening Institute at the University of Central Florida was created in 2009 by the Florida legislature, which follows this model and focused on assisting second-stage growth companies. As of June 30, 2013, GrowFL assisted companies represent 13,493 direct jobs across the state of Florida. In 2013, these companies had an estimated sales output of $1.14* billion and contributed $2.33 billion to the Florida economy. For fiscal years 2012 and 2013, a variety of public/private funding sources invested $2.61 million in the GrowFL program; during that period they helped generate an estimated 3,745 net new direct, indirect and induced jobs, which in turn contributed $587.49 million

by Eric Wright

to Florida’s economy and generated an additional $19.78 million in total state and local tax revenues (above and beyond the cost of the program). This translates into a return on investment of $7.58 for every $1 invested into the program. In our first edition, Developing the Entrepreneurial DNA of Central Florida, the emphasis was on the University of

This translates into a Return On Investment of $7.58 for every $1 invested into the program. Central Florida. The logic behind this was simple: most successful entrepreneurial ecosystems have developed around a significant research university, with an entrepreneurial emphasis. In addition, UCF is close to a large metropolitan community, which can provide the talent and infrastructure for the ecosystem to flourish.

EXTRAORDINARY IMPACT NEAR & FAR There are numerous examples to substantiate this approach, but one of the most outstanding contemporary cases is Stanford University. For almost 100 years they have incubated ideas, educated entrepreneurs and developed revolutionary technologies that have contributed to the rise and constant renewal of Silicon Valley and beyond. In a 2011 report that assessed Stanford’s economic impact resulting from its involvement in entrepreneurialism, it was estimated that 39,900 active companies had their genesis at Stanford. If these companies were confederated into an independent nation, its estimated economy would be the 10th largest in the world. Based on the results of the report, these companies have created an estimated 5.4 million jobs and generate

annual world revenues of $2.7 trillion. Stanford graduates have started, built or led thousands of businesses, including the likes of — Google, Nike, Cisco, Hewlett-Packard, Charles Schwab, Yahoo!, Gap, VMware, IDEO, Netflix and Tesla. Equally interesting, an estimated 18,000 firms created by their alumni are headquartered in California. Among those who graduated after 1990, 25 percent of the surveyed entrepreneurs formed their companies within 20 miles of the university. Thirty-nine percent of all alumni founded firms are located within 60 miles of Stanford — or roughly a one hour’s drive. In this publication, you will discover the organizations nurturing the entrepreneurial environment in Central Florida and how that influence is reaching across the state.

The impact of the research and the resources of UCF is quite personal to SCB Marketing, the publisher of i4 Business magazine. The company was founded by Josh Field and Jeff Piersall in 2006, with a vision of creating a platform for educating and elevating small to mediumsized businesses and their owners. They felt if all businesses operated smarter and more profitably then the communities in which they do business would ultimately benefit, from new job creation, to higher wages and even charitable donations.

(Left to Right) Josh Field, Jeff Piersall and Eric Wright

In 2011, they were recognized as a GrowFL Florida Companies To Watch winner and gained access to the treasury of data GrowFL makes available. A year later they were among the Inc. 500/5000 America’s Fastest Growing Private Companies. Then in 2013, Eric Wright moved from contributor to partner and they launched i4 Business to be another voice for the burgeoning business market in Central Florida. GrowFL’s research and support continues to be crucial to the company’s success as they keep building their brands and diversifying into other business ventures. i4biz.com

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ECONOMIC GARDENING

Artwork courtesy of the Edward Lowe Foundation

& Growth Company Development

obs come into regions from four primary sources: Economic Development organizations recruit businesses by providing various incentives for a company to relocate and by promoting policies which encourage business growth. Small Business Development groups provide business counseling and networking tools to small businesses owners. Workforce Development connects labor with job opportunities and develops training programs to meet companies’ needs and for transitions in the job market. The fourth is Growth Company Development or Economic Gardening®.

In contrast to programs that encourage relocation or startup activity, Economic Gardening helps existing companies in a region accelerate growth and become more competitive. Known

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Growth Company Development

Small Business Development

Workforce Development

Economic Development

as a “grow from within” approach, Economic Gardening assists secondstage companies (in Florida, these are companies with 10 to 99 employees and $1 million to $50 million in annual revenue) with their strategic challenges, such as developing new

markets, refining business models and accessing competitive intelligence. “Economic Gardening helps CEOs identify untapped opportunities and points them to new tools and information they can apply immediately, which is ideal for secondstage companies,” says Chris Gibbons, founder of the National Center for Economic Gardening (NCEG) and the originator of the concept. “These firms are moving fast and need just-in-time solutions, which Economic Gardening is all about.” Supporting entrepreneurship isn’t a new idea, points Penny Lewandowski, vice president of entrepreneurship and strategic direction at the Edward Lowe Foundation, which hosts the NCEG in partnership with Gibbons. “The innovative piece, however, is

Growth Company Development

supporting growth companies in a way that fits their unique needs. That’s where Economic Gardening comes in.” Economic Gardening networks leverage sophisticated business intelligence tools that second-stagers either can’t afford on their own or aren’t aware of. For

Economic Gardening assists second-stage companies with their strategic challenges example, NCEG research specialists typically assist in four key areas: strategic market research, geographic information systems, search engine optimization and social media marketing. Economic Gardening is very different than other types of business assistance. Economic Gardening has a laser-like focus on strategic issues. It’s also fast: Economic Gardening programs help second-stagers get answers in hours or days, rather than weeks or months, which they can implement themselves. Steve Quello, founder of CEO Nexus in Winter Park, Fla., and an Economic Gardening expert said, “Entrepreneurs know more about their companies than anyone else. Give them a better view of the big picture, and they can make adjustments themselves.” Another critical aspect: Economic Gardening helps establish an entrepreneurial culture within communities that is critical to regional growth, points out Lewandowski: “Entrepreneurial Ecosystems exist to drive the spirit of entrepreneurship and to help entrepreneurs — and Economic Gardening is a huge part of that, both in terms of its philosophy and its tools.”

There are some cultures that celebrate the entrepreneur, whereas some are confused or even threatened by them. Where entrepreneurs flourish, the civic and business leadership understand the job generating benefits when the creative force of entrepreneurialism is unleased and therefore develop prevailing mindsets that create that type of environment.

THE CENTRAL FLORIDA ENTREPRENEURIAL ECOSYSTEM An “Ecosystem,” like the term “Economic Gardening,” is the best word to describe the interdependent linking of individuals and organizations connected together in an organic fashion to stimulate entrepreneurial activity. From conceptualization, research and development, through the start-up phase and into Growth Development, each part of the ecosystem is designed to ignite and support the job creating activities of entrepreneurs.

INTELLECTUAL CAPITAL

TALENT POOL

FINANCIAL CAPITAL

These attitudes include: a tolerance for risk and failure; a preference for self-employment; the elevation of entrepreneurial success stories and role models; an environment where research, intellectual inquiry and discover is nurtured; a positive image of entrepreneurship and the celebration of innovation. In Central Florida such an environment has been in development that is touching the entire state.

Depicted here are the key elements to the Ecosystem. The respective size of each principle component is intended to reflect how developed it is in Central Florida.

ECOSYSTEM FUNDING SO URC ES

RESOURCE PROVIDERS/ SUPPORT

Entrepreneurs

ADVOCATES & CHAMPIONS

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E N T R E P R E N E U R IA L E C O S YS T E M

Entrepreneur magazine cited Orlando as one of the “10 Best Cities to Start a Business.”

Jerry Ross, Executive Director National Entrepreneur Center

RESOURCE Providers & Support

ike aiming at a target, there is a direct correlation between intentionality and results. That intentionality is seen by various stakeholders in Central Florida and has resulted in an entrepreneurial renaissance in the area. That is not just an opinion; Business Journals’ survey found Orlando to be the No. 1 “City for Starting and Growing a Small Business,” and a few years later Entrepreneur magazine cited Orlando as one of the “10 Best Cities to Start a Business.” Jerry Ross of the National Entrepreneur Center stated, “Intergovernmental and private cooperation turned the city into one of the most highly coordinated entrepreneurial engines in the county.” There are numerous programs and centers which provide resources and support for the regional Entrepreneurial Ecosystem, from the Center for Innovation & Entrepreneurship at University of Central Florida, which coordinates the activities of the Florida Small Business Development Center

at UCF, the UCF Business Incubation Program and GrowFL among others, to the National Entrepreneur Center and Workforce Central Florida.

Originally known as the Disney Entrepreneur Center, the name was changed in 2011 to better reflect the national scope of their influence. With the motif of growing plants covering their walls, the message is clear that nurturing businesses’ development is their mission. Founded in 2003, through the collaborative efforts of Walt Disney World, Orange County Government and The University of Central Florida, this “shared facility” and cooperative approach to small business development has attracted national attention for its

financial efficiencies and the ability to leverage the resources and skills of each resident organization. Additionally, the center provides easy access to these business assistance organizations for local entrepreneurs. Since inception, the resident organizations have trained and counseled Central Florida businesses in record numbers, while creating nationally recognized business development programs. Centrally located in Fashion Square Mall, they see an astounding 250 walk-in clients per month, not to mention the aspiring entrepreneurs who come to the Center to meet with one of the 11 business development organizations housed in this one centralized location, what Jerry Ross likes to describe as a “Switzerland for business development.” The results speak for themselves: over 100,000 businesses have been coached and trained; over $150 million in loans have been facilitated and this means job production for Central Florida [NationalEC.org]. i4biz.com

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GrowFL is driven by one goal — to cultivate second-stage growth companies across the state. These companies are the backbone of Florida’s economy and the definition of economic growth and prosperity. GrowFL, through their nationally certified team of experts, delivers proven methods to help overcome the unique challenges facing second-stage companies as they grow. By supporting companies with strategic research and peer-to-peer CEO mentoring, through organizations like CEO Nexus, GrowFL helps companies overcome obstacles to growth and leads them towards prosperity. Based on the philosophy of Economic Gardening — to grow existing businesses in a community, region or state — GrowFL is the program of the Florida Economic Gardening Institute at UCF and is a critical component to the state’s economic development

Thomas O’Neal Ph.D.

strategy and Florida’s entrepreneurial ecosystem. To underscore the effectiveness of this approach, secondstage companies engaged with the GrowFL program grew three times faster than their industry peers and five times faster than all Florida industries that did not participate in the program. • Strategic Research engagement helps companies analyze their business, their markets, their personnel and their strategies. CEOs explore challenging questions and get compelling answers about their company and where they fit in the competitive landscape, from experts and analytics that are rarely available to smaller companies.

ENVIROBRITE ENERGY PLANNING ASSOCIATES County: Seminole Location: Sanford CEO: Mike Brennan Primary Business: Manufacturing Website: envirobrite.net

nvirobrite was founded in 1994 at the University of Central Florida to achieve two goals: to save people substantial amounts of money through the use of energy-efficient products and to help the environment. The company’s retrofit kits reduce electrical consumption on commercial lighting fixtures, with the resulting savings easily covering the cost of the conversion. The employee-owned Envirobrite has now grown into an industry leader in retrofit lighting, manufacturing America’s top performing ‘Ready-to-Install’ retrofit kits and fixtures. “Basically we convert existing light fixtures over to updated, efficient sources. Every product we offer pays for itself through the energy savings and environmental impact it provides,” said CEO

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• CEO Roundtables are peer groups that give executives the opportunity to discuss business practices and management strategies with peer CEOs who deal with similar growth challenges. This involves meeting with 12 to 15 qualified entrepreneurs 10 times a year for collaborative problem solving sessions led by trained facilitators. • Events & Forums events are held throughout the state to help CEOs discover the people and resources needed to help their business grow. Seminars provide advanced training on management principles and practices most important to secondstage growth companies.

and founder Mike Brennan. “We help conserve millions of kWh of electricity, which eliminates thousands of pounds of carbon dioxide from the environment,” he said. “Our geographical footprint has increased to the entire U.S. and some international sales. We used to be just an eastern-focused company. We’ve also expanded our product lines over the years,’’ he said. Adding that being an employee owned and operated company has made all the difference, “Every Envirobrite lighting expert has a stake in our success,” he added. GrowFL has assisted Envirobrite in analyzing future opportunities and market data in relation to other competitors. According to Brennan, it also provided peer networking opportunities that have produced lasting interactions.

In 2013, through collaboration with the UCF College of Business’ Center for Entrepreneurial Leadership, The Florida High Tech Corridor Council and a $1.4 million grant from the Blackstone Foundation, the UCF Blackstone LaunchPad opened its doors. Located at the heart of the campus in the Student Union, “The LaunchPad” provides students with one-on-one advising from experienced, trained startup coaches, daily workshops that empower students to explore their startup ideas and access to community leaders participating in the LaunchPad’s Coaching Network. In its first four months, UCF’s LaunchPad has engaged thousands of students through events and workshops, and has advised over 350 unique venture proposals. The LaunchPad intends to change UCF’s culture by introducing

ermfree Laboratories Inc., of Ormond Beach is known worldwide for manufacturing advanced biosafety equipment and modular containment laboratories, for a variety of uses in public health, national security and hospital/ pharmacy applications.

entrepreneurship as a potential career path for all students, and by creating a starter community that supports innovation and new venture development. Additional facilities for a Starter Lab workspace and a student venture accelerator will open in Spring 2014. This is one of four programs that are a part of The Blackstone Charitable Foundation’s five-year, $50 million Entrepreneurship Initiative.

The Central Florida Research Park is a campus-like environment for business located adjacent to the University of Central Florida, encompassing over 1,000 acres, 58 buildings and is home to over 125 companies, employing over 9,500 employees. According to the Park’s Executive Director Joe Wallace, “We are approximately 65 percent built out and can add more than two million square

feet of buildings with an additional 7,000 to 8,000 employees.” They project a build out in six to eight years. Dominic M. Calabro, president and CEO of Florida TaxWatch said, “Florida’s university research parks help create jobs and our state should continue to invest in and develop their resources to grow and diversify our state economy.” University research parks also have a surprising job creation and sustainability record. Only 19 percent of companies created in these parks are no longer in business, compared to the average startup survival rate of less than 50 percent. Jerry Parrish, Ph.D., TaxWatch chief economist said, “Florida’s university research parks help companies partner with the resources of the state’s top talent and research. By matching our state’s research capabilities with successful growing businesses, the research parks can foster continued STEM development in Florida.”

GERMFREE County: Volusia Location: Ormond Beach Founder & President: Keith Landy Primary Business: Manufacturing Website: Germfree.com

Germfree’s founder Keith Landy, from the outset, believed in diversification — in terms of products and range of industries. But after about 4 years of limited success, he recognized that Germfree was not gaining traction. “I then selected two areas: life science-research and hospital pharmacy,’’ Landy said. From that decision to focus his efforts has come Germfree’s modular laboratories which have garnered a tremendous response overseas. “Diversification is now accomplished by continually introducing new related products into the markets where we are recognized. Expanding into global markets helped us maintain growth even when the U.S. economy was down in 2008; these markets have been a tremendous boost and I feel we are just getting started,” Landy said.

Knowing opportunities can also be found much closer to home, GrowFL helped Germfree identify how to increase sales within the U.S. “GrowFL research has helped us identify two new markets which happen to be on the I-4 corridor: modular manufacturing suites for the pharmaceutical and biotech industry and modular labs for university technology incubators which provide easy laboratory equipment change out, based on changing research projects,’’ he said.

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ADVOCATES & Champions

Randy Berridge, President Florida High Tech Corridor Council

Now, like a large stone dropped in a pond, the ripple effects of these values, celebrated and demonstrated in Central Florida, have moved across the state. From vibrant Junior Achievement programs that are transforming schools and planting entrepreneurial vision in young people, to Orlando, Inc. (The Greater Orlando Chamber of Commerce), that recently celebrated its centennial, whose focus is on “Regional Entrepreneurship.” These along with countless other advocates and champions are raising awareness and support that is growing like a wave.

NN Money ranked Florida as one of the 10 most entrepreneurial states in 2011. One of the reasons for this elevation of entrepreneurialism is the united voice of academic, civic and business leadership to focus on its promotion as a job generator. Babson College launched a research project, the Babson Entrepreneurship Ecosystem Project (BEEP), and raised a number of questions a region must answer if they are going to have a vibrant Ecosystem. Some of the initial questions were:

Do public leaders act as strong, public advocates of entrepreneurs and entrepreneurship? Do public leaders open their doors to entrepreneurs and those promoting them? Are there public/private partnerships that create effective institutions directly associated with entrepreneurship? One word sums up the reason these efforts have been so overwhelming and have laid a foundation that can continue to grow for decades to come: cooperation. Between organizations, institutions and business, bridges, not walls, have been built.

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expansion from going offshore or relocating to another region. FHTCC President Randy Berridge explained how it began, “UCF President John Hitt and USF President, at that time Betty Castor, made a commitment to AT&T pledging the strength of the universities, and actual financial resources, to help with the research the company needed. That’s grown into support for 400 companies and 1,200 projects, engaging

We have invested $56 million in Corridor funds with these companies, but the return to the state, to these companies and to the universities has been over $1 billion. 2,400 starving graduate and doctorial students, working side by side with UCF, USF and UF professors. We have invested $56 million in Corridor funds with these companies, but the return to the state, to these companies and to the universities has been over $1 billion.” The unique partnership of the Florida High Tech Corridor Council has resulted in a strategic approach to high tech economic development on a regional, rather than local, basis.

The Florida High Tech Corridor Council (FHTCC) is a regional economic development initiative of the University of Central Florida (UCF), the University of Florida (UF), the University of South Florida (USF) and more than 25 local and regional economic development organizations (EDOs) and 14 state and community colleges, Florida Institute of Technology and representatives of high tech industry. FHTCC’s mission is to grow high tech industry that involves matching funds research, workforce development and a marketing program leveraging governmental, EDO and corporate budgets. Its initial objective was to foster research and education partnerships to retain a $1.4 billion, 1,500 job

The Florida Virtual Entrepreneur Center (FVEC) is a free web portal designed to connect entrepreneurs with business support organizations, programs and service providers who can support their new or growing business. Major funding and support is provided by the Florida High Tech Corridor Council. Whether it is an entrepreneur starting a business or a business owner and service provider wishing to register with the FVEC, it instantly allows connection with local, state, regional and national resources, programs and service providers who can support all of their business needs.

FEATURE[23] County: St. Johns Location: St. Augustine CSO: Jeremy Vaughan Primary Business: Software Website: feature23.com

There is a story of a man who went to an asylum for the criminally insane. He was a bit surprised to find that there were three guards to take care of almost a hundred inmates. He said to one of the guards, “Aren’t you afraid that the inmates will unite, overcome you, and escape?” The guard calmly replied, “Lunatics never unite.” In order to move a region forward and to build an Ecosystem that both generates jobs and attracts job creating business, there has to be a unified leadership identifying issues and opportunities. The Central Florida Partnership, described as America’s Newest Regional Partnership, brings leaders from Brevard, Lake, Orange, Osceola, Polk, Seminole and Volusia counties to convene, set priorities, and address our region’s toughest challenges while targeting our best prospects. Working to understand the complexities of global markets, growth and collaboration and respond with timely and appropriate action, their goal is to ensure economic prosperity and quality of life for all. The Partnership is a platform where regional leaders can learn to better collaborate, cooperate and coordinate, and in doing so improve communications throughout the region. Working together, through four lines of business — Orlando, Inc. (Regional Entrepreneurship), BusinessForce (Regional Public Policy Advocacy), MyRegion.org (Regional Research & Resolves) and Leadership Orlando (Regional Leadership) — the Central Florida Partnership is moving “Ideas to Results.”

eature[23] owner and Chief Strategy Officer Jeremy Vaughan teamed up with chief engineer Mike Potts to form a new type of software development company. “I started out in finance in a corporate setting and saw a lot of cool things happening in the technology industry and just wanted to be around that. I’m a creative person and always felt the corporate world wasn’t for me,” Vaughan said. feature[23] launched as a software engineering firm with a focus on innovating and creating value for the companies they work with. As their website says, “We understand your business, so you don’t have to understand software.” They bridge this gap, by delivering solutions and applications that keep their clients ahead of the competition. Vaughan added, GrowFL provided feature[23] “with some very challenging and thought-provoking ideas. They helped us with focusing on what exactly we’re doing and how to better position ourselves in the market. They provided us with a lot of research and very good insights on our competitors so we could position ourselves better, so we can create more business. It’s hard as a business owner to keep up with the research about your position in the market.”

UCF Researcher Jayan Thomas uses nanotechnology to bring 3-D television back to life. i4biz.com

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The Carnegie Foundation for the Advancement of Teaching designated UCF as a university with “very high research activity,” which puts UCF alongside institutions like Harvard, MIT, Johns Hopkins and Stanford in that top tier.

INTELLECTUAL Capital

“One’s mind, once stretched by a new idea, never regains its original dimensions.” — Oliver Wendell Holmes

hough all acknowledge the importance of resources like capital and experience, without transformational, revolutionary ideas, these things lie dormant. In 1905, while working as a patent clerk in Bern, Switzerland, a young physicist had what came to be known as his “Annus Mirabilis” — or “miracle year.” That year Albert Einstein, unknown

to the scientific world, published four of his most influential research papers, including the Special Theory of Relativity, introducing the most famous equation in history “e = mc2.” Einstein unlocked the mysteries of the universe and opened the doors to the modern scientific world. Though “ideas” can be anything from a better way to deliver a service or an innovative App that makes a phone more useful, in the laboratories and research centers of UCF, ideas that have the potential to change a market

UCF also ranked 21 on a list of the top 100 universities in the world for 72 patents awarded in 2012, according to the National Academy of Inventors and Intellectual Property Owners Association.

or change the world are being sought and discovered. With the link between these discovery generators and UCF’s Center for Innovation & Entrepreneurship (CIE), The Office of Technology Transfer (OTT) and the UCF Business Incubation Program (UCFBIP), these breakthroughs are being joined with business developers who can bring them to market. These are the links that have made science fiction science fact, and turn the extraordinary into the commonplace.

AGILETHOUGHT

here’s the standard way of doing things in providing County: Hillsborough software development and Location: Tampa then there’s the better way consistently CEO: David Romine held to by AgileThought of Tampa. Primary Business: Information Founder and now CEO David Romine Technology explains: “We developed a deep Website: AgileThought.com appreciation for the craft of software development. We wanted to create Todd Dileo and Kristen DiGiacomo a controlled environment that was credibility and track record. About a year into business, we specifically suited to the process of software development with brought in our first contract employee. Now we have 150 the best possible people. We have an extremely high bar for professionals working for us,’’ Romine added. talent. There’s talent but there’s also passion and that’s what our company is all about,’’ he said. GrowFL is a developing relationship for AgileThought as they expand The other major difference about AgileThought is its client relationship culture, he said. “We are very flexible in how we meet our client’s need. We truly advocate our client’s interest, help them make good decisions and help them manage their risk. We truly partner with our clients. One of our strategic anchors is that we take the long view on relationships,’’ he said.

throughout Florida. “Those are target areas for us and frankly those are areas that we need information: we need market research, demographic information. We need advisement from folks who know those markets that can help us effectively penetrate them. It’s vital to our strategy and GrowFL fits right in there,” he said.

“We started off with three of us and one small engagement. We just kept putting our heads down and building up

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biophotonics, advanced imaging and 3D displays, and ultra-high bandwidth communications.

SOME UCF CENTERS AND INSTITUTES From the grocery store checkout counter, to the most delicate surgeries, the science of optics and lasers is continuing to change our lives. UCF’s Center for Research and Education in Optics and Lasers (CREOL) is a worldwide leader in photonics research. Optics and photonics is the science and technology of light: lasers, LEDs, LCDs, optical fibers, and imaging systems for applications in industry and medicine. CREOL is leading the world in cutting-edge research and is providing a highly trained work force to the growing optics and photonics industry locally. The Florida Photonics Center of Excellence (FPCE) researches and educates about the expanding field of photonics, and the impact of the field on economic development in Florida, focusing on the rapidly growing technologies of nanophotonics,

Townes Laser Institute is working to develop the next generation of laser light engines for use in medicine, advanced manufacturing, and defense applications. UCF’s partnership provides the institute access to cutting edge research and development, and expertise in atmospheric propagation of lasers, laser communications, laser radar (LADAR), fiber-optic lasers, passive imaging, and optical design. Townes Laser Institute is funded by the State of Florida, and is associated with CREOL, the College of Optics & Photonics at UCF and the Florida Photonics Center of Excellence (FPCE). Lighter, stronger, less corrosive and more conductive, these and a host of other challenges and opportunities are being pursued at the Advanced Materials Processing & Analysis Center (AMPAC). AMPAC provides resources to industry, government, and university partners to find comprehensive solutions to complex, multi-faceted problems.

PACER GROUP County: Sarasota Location: Sarasota CEO: John M. Swiatkowski Primary Business: Manufacturing Website: PacerGroup.net

acer Group was started by family patriarch Joseph Swiatkowski in 1979 as a wire and cable distributer for the marine industry. Now other family members are involved, including John M. Swiatkowski and his brother Joe Swiattkowski. “My brother Joe (an electrical engineer) has been instrumental in the company as we grew from distribution to a wire manufacturer and beyond. The combined skills of experience, technical and creative have been critical to our success over the years. More importantly, though, we built a great team of people, some with us for 20 plus years,’’ John said. Pacer has now focused on four major industrial functions at its 42,000 square-foot manufacturing, assembly, and warehouse complex in Sarasota: electrical wire and cable manufacturing,

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Shin-Tson Wu (center) specializes in the science behind liquid crystal displays.

Over a decade ago Richard Smalley, Nobel laureate in chemistry, said, “The impact of nanotechnology on the health, wealth, and lives of people will be at least the equivalent of the combined influences of microelectronics, medical imaging, computer-aided engineering and man-made polymers developed in this century.” Formerly a part of AMPAC at UCF, the NanoScience Technology Center (NSTC) was formed as an independent center in 2005, to lead in what one writer defined as “Building ‘things’ — generally, materials and devices — on the scale of atoms and molecules.”

electrical panel design and manufacturing, wiring harness and battery cable assembly, and electrical components distribution. Pacer looked to GrowFL for help in expanding e-commerce. Working with them for over three years, GrowFL “was able to do an analysis of our sight and offer technical advice on optimization as well as offer assistance in more traditional marketing,’’ he said. Swiatkowski also participates in a GrowFL CEO roundtable. “I have found these monthly discussions extremely helpful and an excellent sounding board for the challenges we face running companies. The members bring their experiences and question your notions or bias,” he said.

Another area where Central Florida and UCF are internationally recognized is the burgeoning simulation industry. The Institute for Simulation and Training (IST) is an internationally recognized research institute that focuses on advancing modeling and simulation technologies. IST differentiates itself through its focus on human-in-the-loop simulation and modeling of human activity, instead of science-based simulations used by other UCF institutions. The Burnett School of Biomedical Sciences, located at the UCF Health Sciences Campus at Lake Nona, focuses on cancer, cardiovascular, neurological, and infectious diseases research. The Burnett School faculty is working to turn research into reality, taking science from the lab to the patient’s bedside. “In addition to conducting cutting edge research in biomedicine with potential application to curing major diseases, the School is committed to helping to develop a technology-based industry in Florida.”

technologies. Their research will hopefully produce technologies that can positively impact the nation’s economy and improve the environment. UCF’s FSEC is leading the four-year, $9 million Electric Vehicle Transportation Center (EVTC) funded by the DOT, a consortium combining UCF’s College of Engineering and Computer Science with transportation and energy experts from the University of Hawaii and Tuskegee University in Alabama, to help create the nation’s electric-vehicle transportation network. Center for Research in Computer Vision (CRCV) researches and develops computer vision and its applications in related areas. CRCV primarily focuses on computer vision application in National Defense & Intelligence, Homeland Security, Environment Monitoring, Life Sciences and Biotechnology and Robotics. CRVC aims to be the world class leader in research, commercialization, scholarship and education in computer vision. The Florida Space Institute’s (FSI) core mission is to support space research,

Mubarak Shah, Center for Research in Computer Vision

development, and education activities within UCF and other FSI member institutions in Florida. Secondly, FSI’s mission is to support the development of Florida’s space economy — civil, defense, and commercial. FSI research ranges from studying the Earth’s upper atmosphere, the origin of the planets, the workings of asteroids, and propulsion technologies for high-Mach aerospace vehicles.

The Florida Solar Energy Center (FSEC) focuses on research and development of new energy

fter the successful sale of Florida Choice Bank in 2006 Ken LaRoe, a committed environmentalist County: Lake Location: Mount Dora all of his life, decided it was time to put CEO: Ken LaRoe his eco-friendly principles to the test Primary Business: Finance in the banking business. Wanting to and Insurance prove there’s a better way to do business Website: FirstGreenBank.com environmentally and socially, LaRoe founded First GREEN Bank in 2009. Backed by a team of experienced and successful local bankers, they received the last bank charter in and social example including: 1) Discounted interest rates for the state of Florida in 2009 and went to work to make the first commercial and residential projects that meet green building green bank in Central Florida a reality. criteria of LEED certification by the U.S. Green Building Council. 2) A solar loan program which offers a long-term In November of 2011, First GREEN Bank’s new state-of-the-art fixed rate to encourage customers and employees to install headquarters building in Mount Dora was completed, and the solar panel systems for energy use. Eustis office relocated there. The headquarters was built to exceed

FIRST GREEN BANK

the LEED Platinum standard set by the U.S. Green Building Council for energy efficiency. In fact, it is the most environmentallysustainable and energy-efficient bank building in the southeastern United States, using approximately 56 percent less energy than a traditionally designed building of the same size.

For LaRoe, the triple bottom line of “people, planet, and prosperity,” is the backbone of all of the bank’s initiatives. It is obviously working, as the bank continues to grow (the fifth branch in Winter Park celebrates its grand opening this month).

While First GREEN Bank offers many of the same services as a traditional bank, the bank also provides many unique services and financial products to bank customers that reinforce its mission of promoting a positive environmental

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E N T R E P R E N E U R IA L E C O S YS T E M

CUBE CARE CO. County: Miami-Dade Location: Miami Lakes CEO: Susana Robledo Primary Business: Manufacturing Website: CubeCare.com

TALENT T

Pool

John C. Hitt, Ph.D., UCF President

he intelligence, ingenuity and innovation that can result in job creation are qualities which no culture or region has a monopoly on. Rather, it is the initiative leadership takes to provide opportunities for those qualities to be discovered and developed that produces the differentiation we see around the world. To be specific, it is our investment in schools and universities. They focus human potential for the maximum benefit of the greatest number of people. For the average person, whether they ever step foot on a college campus or not, that benefit is felt in the creation of high paying, stable jobs. Our colleges and universities provide the intellectual capital that fills the need for engineers, computer scientists, administrators, chemists, doctors, accountants and teachers. But they also are the seed bed where actual job creators germinate and grow. Recognizing the need for entrepreneurs, who are able to turn ideas into scalable businesses, higher education is responding with innovative programs and degrees to equip the next generation of business generators. UCF, “The Partnership University,” through organizations like The Center for Innovation and Entrepreneurship coordinates and links numerous programs and university centers with students and professionals throughout the state, to help improve the likelihood, not only of business success, but ongoing growth. In Winter Park, the Rollins College Crummer Graduate School of Business’s Center for Advanced Entrepreneurship is dedicated to educating and connecting students and alumni with seasoned entrepreneurs. Developing the entrepreneurial talent that replenishes and reinvigorates the Ecosystem, the Center utilizes faculty that have started, purchased or run a successful business. A blend of entrepreneurial faculty and business owners provides students with unprecedented and regular access to learn and closely collaborate with top entrepreneurial minds.

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ube Care Co. provides cubical curtains for hospitals, including design, manufacture, installation, service and replacement. “We are the only company in the United States that can provide the full circle of services with an in-house staff,” said CEO and founder Susana Robledo. The highly successful company continues to grow and adapt to a rapidly changing market. Currently they serve hospitals across South Florida, all Veterans Administration hospitals and many prisons nationwide. But Cube Care comes from very humble roots, Robledo said. In 1999, “I was employed by a laundry service that worked with the local hospitals. I was the liaison and developed relationships with the hospitals,” she explained. “Later, one of the hospitals required new curtains in several areas and old curtains needed repair. I picked up all the curtains and worked in my living room. Two weeks later my mother and I completed and installed the project. Two months later I chose the name Cube Care and it stuck,” she said. She credits Cube Care’s growth with GrowFL, which helped with lead generation, information on the market and help getting exposure to the public. They also guided company leaders to additional training opportunities as the company expanded. “You can’t beat it. I was doing this alone, but I don’t feel alone anymore. I have a support team; if I have a question or a problem, they’re there. They have a very robust team and know how to do things. They give very firm advice on what you can do and it comes from people who are very knowledgeable,” she said.

E N T R E P R E N E U R IA L E C O S YS T E M

FINANCIAL “

Capital

n the Art of Bootstrapping, Guy Kawaski said, ‘the probability of an entrepreneur getting venture capital is the same as getting struck by lightning while standing at the bottom of a swimming pool on a sunny day.’ For those who need external funding, Kawasaki’s math is daunting. There is a rule of thumb that for every 500 bona fide business plans submitted to sophisticated investors, about 50 will get some consideration, five will become pitch decks seen by investors and one will get funded.” So wrote Allen Kupetz the COO of venVelo, a Winter Park early stage investment fund and the Executive-In-Residence at the Crummer Graduate School of Business at Rollins College.

Licursi, whose success stories include raising over $70 million and then providing more that $600 million in returns from companies like MeshNetworks, are just one of the groups stepping into the cash gap that start-ups need to see their ventures grow. Currently the Florida High Tech Corridor Council’s research investments through its Matching Grants Research Program may be the region’s biggest “angel” investor, providing seed money for exciting research projects that span the areas diverse technology sectors, involving companies large and small. Arsenal Venture Partners’, Florida Angel Nexus (FAN) which works with UCF Venture Accelerator, FL SURCAG (State University Research

“What gets our attention, 100 percent of the time, is a great deal, not a good deal, but a great deal. If it is from someone I know or a trusted entrepreneur and it’s a great deal, you’ll get our attention.” — Jason Rottenberg, Arsenal Venture Partners

Commercialization Assistance Grants), The Florida Growth Fund and others are endeavoring to connect great ideas and great teams with the life blood of entrepreneurialism … Capital. According to a 2012 MoneyTree report, Florida was home to less than 1 percent of the deals and dollars invested nationwide and only 6 percent of all venture capital went to financing rounds between $1 to $4 million. Banks, Small Business Administration loans and Angels all are part of the equation. But the need is so apparent in Central Florida that Orlando, Inc. formed a “Sources of Capital Task Force” chaired by Mark Montgomery whose Axium Healthcare Pharmacy was recently acquired by Kroger.

Kupetz and his partners at venVelo, including serial entrepreneur Richard

AMWAT MOVING

MWAT Moving has been County: Leon growing steadily since 1997, Location: Tallahassee when the company was CEO: Gloria Pugh literally and officially named “A Man COO: Dean Pugh With A Truck.” “Dean had a pickup truck Primary Business: Moving and worked out of a spare bedroom in Website: AmwatMovers.com our house. He moved to a small office space in a warehouse and operated there for six years,” said Gloria Pugh, who officially joined the company as CEO in 2005. “The collaboration between the two of us really works well. He handles the operations side and is a natural salesperson with a special knack for how to treat a customer. I’m more into administration, branding, marketing and community outreach,” Gloria said. The collaboration and energy between the Pughs impacted the company very positively. The moving company expanded statewide and obtained interstate authority from US DOT to conduct long distance moves across state lines, mainly in the southeastern United States. In 2008, AMWAT Moving became a military certified facility and maintains 100 percent rating with the military due to their attention to customer service, and continued their astounding growth. In 2009, AMWAT included the transportation of all commodities except for hazardous materials to its lines of business and in 2013 they received Angie’s List Super Service Award.

Gloria and Dean Pugh

AMWAT participated with GrowFL in 2011 and 2013. “Both were very positive experiences for us. They were able to provide us with information for our website and it really helped in our results. They also gave us information in regards to our competition and a market analysis about the moving industry. It was information that we wanted to get but could not afford to get. That’s expensive. It was really nice to get all that information. It really enlightened us in several areas in regards to the moving industry and market analysis. They were very enthusiastic about helping us move to the next level,” Gloria said.

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APRIL2014[XV

THE

ECONOMIC

Holy Grail ... Jobs

acebook Chief Operating Officer Sheryl Sandberg said back in 2011 that “small businesses are the backbone of the American economy.” It is a sentiment that has been echoed by every president in the last 20 years, regardless of political party, and in many respects it is true. However, research shows that most small businesses were not started to create “jobs,” but rather to create “a job” for the business originator. According to University of Chicago researchers Erik Hurst and Ben Pugsley’s survey, evidence found that the majority of

CPR TOOLS County: Hendry Location: LaBelle CEO: Josh Benkert Primary Business: Computer Hardware and Data Security Website: CPRTools.net

small business owners say they didn’t start a business to create jobs or even for the money, but instead for the flexibility and freedom of being self-employed. The chief source of small-business job creation comes from growing, scalable companies or “gazelles,” in the evocative term of economist David Birch — that start small and prosper. Kansas City Federal Reserve economist Kelly D. Edmiston’s analysis of U.S. data found employee retention, wages and benefits all increase, almost proportionately, with the size of the company. Thus it is the growing “Over the past five years, GrowFL has truly demonstrated the return on investment by assisting the state’s thriving second-stage companies such as CPR Tools, a company that delivers products and services for data recovery and security. In Hendry county, programs like GrowFL are so critical because they provide the needed access and support to entrepreneurs enabling them to build successful companies that positively impact Florida.” — Florida Representative Matt Hudson

fter spending 20 years in the Air Force, the last eight of which were spent doing data recovery and security at the National Security Agency, John Benkert entered the world of business founding CPR Tools a decade ago and purchased the company three years ago. “Commercial business is frustrating and exciting all at the same time and I love it,’’ he said. Initially the majority of CPR Tools’ business was through the federal government. Now the company has begun to shift its emphasis to the commercial market and has now signed a contract to provide data recovery and security services through 80 OfficeMax stores nationwide.

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companies that produce the kind of jobs Florida seeks. These are the entrepreneurs that we have highlighted throughout this periodical, the Gazelles, who identified market potential, took the personal and financial risks and built the businesses that Florida can call “home grown.” They availed themselves of the ongoing benefits of Economic Gardening and the Entrepreneurial Ecosystems Florida has nurtured and turned a national small business survival rate after 4 years of only 44 percent, to the 87 percent survival rate of business that have graduated from business incubators, like the UCF Business Incubation Program (UCFBIP).

“Being agile is important and it is what sets us apart from our competition ... we have a great ability to react to customers’ needs without the bureaucracy many companies have. We have grown from 15 to 31 employees because of our relationships with our customers ... both government and commercial,’’ he said.

GrowFL has kept them on the cutting edge. “I contacted them because quite honestly I realize I don’t have all the answers when it comes to running a growing commercial business and I needed help from people who have done it. Our journey with GrowFL is just starting and we are excited about learning and applying what we learn!” he said.

Go ahead, take it to the next level. We’ll hold you steady. One day you’re zipping around on your trusty tricycle, the next you find your balance and fly. It’s a small change, yet a huge leap. Those are the growing moments we live for. Your business is no different. A shift in the way you operate can change the game and we exist to make that kind of change possible. We’re one of the largest locally-owned public accounting firms in Central Florida and along the I-4 Corridor. With our own unique approach to consulting and management advisory services combined with audit, tax and accounting expertise, your business can lose the training wheels and really take off.

It’s time to grow. Find out more about our full suite of services at cfrcpa.com.

Orlando 407.841.6930 Winter Haven 863.299.5638 Lakeland 863.937.9520 Tampa 813.321.6869i4biz.com

APRIL2014[XVII

Florida Entrepreneurs Claim Your Rock Star Status as one of the 2014 Florida Companies to Watch Florida Companies to Watch is an awards program celebrating highperforming second stage companies throughout Florida. Known for their performance in the marketplace, innovative products, unique processes or philanthropic actions, these companies represent a wide range of industries. Join the movement and nominate and support second-stage companies that ROCK in your community. Nominations open April 1st visit FLCTW.GrowFL.com

Join Us For the Rockin Award Ceremony October 23, 2014 at the Hard Rock Live in Orlando

Proudly presented by GrowFL, the Florida Economic Gardening Institute at the University of Central Florida, in association with Edward Lowe Foundation, Florida Companies to Watch is an awards program like no other.

FLCTW.GrowFL.com â&#x20AC;&#x201C; The Official Event Website

#FLCTW

407-823-6384